Experts for Leasehold Conveyancing in Great Shelford

When it comes to leasehold conveyancing in Great Shelford, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide make sure you find a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Great Shelford

I want to sublet my leasehold apartment in Great Shelford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

The lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Great Shelford do not contain subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

Having checked my lease I have discovered that there are only Seventy years left on my flat in Great Shelford. I need to extend my lease but my landlord is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent would be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Great Shelford.

My wife and I purchased a leasehold flat in Great Shelford. Conveyancing and Barclays Direct mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Great Shelford who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Great Shelford conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold house in Great Shelford. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Great Shelford from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Great Shelford can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • The majority landlords or managing agents in Great Shelford levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Great Shelford.
  • Some Great Shelford leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share certificate. Arranging a new share certificate can be a lengthy formality and delays many a Great Shelford home move. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • I purchased a ground floor flat in Great Shelford, conveyancing was carried out in 1999. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Great Shelford with a long lease are worth £172,000. The ground rent is £55 yearly. The lease runs out on 21st October 2098

    With 74 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Great Shelford